Reserve Bank of New Zealand: No regulatory measures will be taken on stablecoins and encrypted assets, but vigilance is needed

The Reserve Bank of New Zealand announced that it will not take regulatory measures against stablecoins and encrypted assets, but it needs to be more vigilant. “There are significant risks and opportunities for stablecoins and other private currency innovations, but there are also significant uncertainties about how the industry will develop and where the sweet spot is. We agree that caution is needed, which also reinforces the strong data and monitoring to build understanding”, while “issues arising from crypto-assets and other innovations are not entirely within the purview of institutions”.